31st October 2011, the National lanka Finance PLC Announced to Colombo Stock Exchange that the board of Directors Decided to offer the Share by the Way of Right Issue to the Existing Shareholders with attached Warrants at Free of Charge.
The Purpose of Rights and Warrant Issue is to
- To Meet the Core Capital Requirement of Central Bank of Srilanka
- To Finance the Credit and Real Estate Business Activities of the Company and to invest in Share and
- To Invest in Subsidiaries of the Company
|Number of Shares to be Rights Issue:||49,982,562|
|Rights Proportion:||One Rights for Every four Shares Held [1:4]|
|Consideration:||Rs. 10.00 per Share|
|Total Rights Considerations:||LKR 499,825,620.00|
|No of Warrants to be Issue:||29,989,537|
|Warrant Conversion:||Each Warrant Convert into 1 Ordinary Shares in July 2013|
|Consideration:||Free of Charge|
|Proportion:||Three Warrants for Every five Rights to Subscribed [3:5]|
Both Rights and Warrant Issues are Subject to the Exchange Approvals and the Shareholders Approvals on General meeting.